Businesses gain a competitive edge when they offer the right mix of payment methods consumers can choose from. Payment orchestration helps enterprises handle various payment components with ease. Such payment technology unifies different payment service providers so businesses can offer localized payment methods, meet compliance, and provide secure and efficient payments across methods, regions, and applications.
Payment orchestration software removes the complexity of modern online transactions so businesses can achieve and implement smooth payments. This payment technology streamlines every stage of the payment journey, thus improving the customer experience, which leads to better conversion rates.
#1 Paytiko
Overview
Paytiko empowers online businesses to control their transactions, manage incoming payments, and monitor outgoing operations in real time. This payment orchestration software offers local and international payment providers so businesses can accept transactions from all potential clientele and expand their market globally. It has also ingeniously combined various added-value elements like UX/UI customization, risk management tools, reporting and reconciliation options, and payment processing features.
This payment orchestration software integrates with 450+ payment service providers, from credit card processors to e-wallet firms and other financial institutions. Merchants can customize this platform to accommodate their criteria, like modifying deposit limitations, payment objectives, currency levels, and dashboard views. Overall, Paytiko offers businesses the ability to fully tailor their payment management experience for both themselves and the end-user.
Paytiko offers affordable pricing packages, making the platform a confident choice for companies of all sizes and budgets. Its user-friendly interface ensures merchants can handle various payment components easily and facilitates smooth transactions. Additionally, Paytiko provides extensive support for all facets of its services.
With Paytiko, businesses can swiftly execute and identify transaction statuses, avoid chargebacks, and access a detailed record of denied transactions, among other crucial features. Additionally, its PCI DSS Level 1 security and GDPR certifications provide secure payment processing and protection of personal information.
Features
Accept Incoming Transactions
Paytiko makes it easy to navigate, manage, and accept incoming transactions. The payment orchestration software displays all the details relevant to the transaction so businesses can understand the method, place, time, and more for each deposit.
With a modern, intuitive interface, merchants can seamlessly select the relevant payment providers they wish to employ to optimize payment flows. Merchants can also assign each client a favorite provider and method through their Sticky PSP feature. Their Pay By Link feature can also generate unique payment invoice links, which merchants can use to send direct invoices, making the transaction fast and seamless.
Optimize Outgoing Transactions
Merchants can efficiently manage their expenditures on the firm's Pay Out tab. Paytiko lets them initiate manual payouts through integrated payment methods such as standalone withdrawals, credit transactions, CFTs, etc.
Paytiko's payment orchestration software gives merchants direct information on every outbound transaction, which users can classify according to their preferences through color-coded status and customizable column headers, views, and layouts. Paytiko optimizes outgoing transactions so merchants can oversee business expenditures and manage cost control. Finally, all such outbound transactions are presented in a unique view that is separate from refunded transactions and other payment operations.
Manage All Payments
Paytiko provides a comprehensive yet simple interface for managing and organizing monetary operations. Sectioned into three main parts, its dashboard gives complete payment oversight on transaction volumes, sales, deposits, refunds, and other valuable parameters.
The payment orchestration software catalogs all integrated individual merchant URLs to keep the functions of different businesses separate yet accessible through its convenient system, which benefits merchants who own multiple businesses. Paytiko also facilitates easy navigation and filtration of transactions, allowing users to view intricate transaction details through segregated or collective views.
Moreover, Paytiko lets merchants customize their services through payment settings where they can modify rules, filtrations, limitations, categorizations, and restrictions based on certain parameters like consumer type, region, and products offered.
Detailed Reporting and Reconciliation
Paytiko can fully break down an entire payment flow through its reporting tool. Through detailed reporting, merchants can monitor and evaluate transactional data on both macro and micro levels. Paytiko's payment orchestration software also provides informative charts and graphics so users can visualize key metrics and gain insights into payment trends and customer behavior. Additionally, the firm allows for the incorporation of external data via convenient Excel sheet uploads, for comparison with their own reports for proper reconciliation and bookkeeping through their reconciliation tab.
Paytiko stands out for its straightforward functionality, affordable pricing, and seamless integration with numerous payment service providers. It diversifies payment options for consumers, expands the reach of merchants, and provides extensive customer support for all its services. The firm is also PCI DSS and GDPR compliant, ensuring the secure processing, storage, and transmission of sensitive cardholder data. It is transparent in handling client and customer information.
The payments orchestration software can reduce the stress and complexities of managing numerous providers as it unifies online payment flows into a single, seamless connection. Additionally, its constant updates and new features prove Paytiko boasts many unique selling points (USPs), which give retailers a competitive edge in the dynamic digital landscape, especially in the payments sector.
#2 Recurly
Overview
Recurly helps businesses expand their subscription with global payments orchestration and optimization. It consolidates local payment methods, multiple currencies, and multiple gateways so they can scale their cash flow and grow across borders.
Recurly also contains tools to keep online payments secure and businesses compliant with data privacy laws. It integrates seamlessly with Kount, the leading fraud management platform, so users can validate transaction details, identify risky login behavior, and prevent revenue loss from criminal and friendly fraud.
Recurly excels in delivering seamless personalized payment experience subscribers expect from businesses. It provides multiple payment methods, from credit and debit cards to electronic bank and money transfer options, unique by country or region. The payment orchestration software also makes it easy to add and manage payment gateways on a global scale.
Reculy offers three subscription plans that can serve the needs of businesses with varying payment volumes. It supports 30+ languages and gives a complementary 3-month free trial for new customers.
Features
Multiple Payment Gateways
Recurly provides multiple payment gateways, which support multiple currencies and payment methods. By offering alternatives, businesses can expect an increase in
conversions as they reach new audiences and discover new revenue opportunities.
The payment orchestration platform can also automatically reroute transactions to a secondary gateway if the first one is exhibiting issues. Merchants can manage and view all gateway configurations through its centralized dashboard.
Alternative Payment Methods
Recurly also provides alternative payment methods so customers can transfer funds through digital wallets and mobile payments like Apple Pay, ACH, Venmo, and more. These online payment options can help businesses cater to the different payment preferences of customers so they can be converted into active subscribers, boosting revenue.
Fraud Management
Recurly boasts AI tools to fight fraud from card-not-present transactions, account takeovers, and account creation fraud. Merchants can create a secure transaction environment and foster a secure transaction milieu to encourage customer loyalty and improve the payment experience.
By integrating Kount's Fraud Service, Recurly end the transaction and not contact the payment gateway when fraud has been detected. Merchants can also utilize the business intelligence tool to perform an in-depth analysis and manual review and design their fraud rules based on observed trends and specific business policies.
#3 Payoneer
Overview
Payoneer caters to freelancers and business owners as this payment orchestration platform makes it easy to get paid, make payments, access earnings, and manage finances. It also breaks down the borders and barriers of international payments with its multi-currency system.
Payoneer stands out for its transparency, as it shows every process after money is sent or transferred. It also boasts a user-friendly interface so users can easily view the history of payments or manage accounts. This payment orchestration software also leverages traditional, online, and third-party technologies for risk and fraud protection.
Payoneer charges according to the nature of the transaction. Small businesses may find the fees too high. It integrates with 2000 marketplaces, networks, and platforms, which makes the software suitable for modern online businesses that serve a global market.
Features
Multi-currency Account
Payoneer can directly transfer international earnings from clients and marketplaces to a local bank account in over 190 countries. It can hold multiple foreign currencies with no fees and combines all marketplace sales, making it easier for merchants to get paid and pay for goods and services.
The payment orchestration software provides a complete picture of incoming funds in one place, which users can organize by currency. It also boasts quick conversions with top exchange rates and zero hidden charges.
Batch Payments
Merchants can make multiple global payments at once through batch payments, which feature the same fees and speed as one-off payments. Payoneer can handle up to a thousand transactions in one go, thus saving users the manual work and time of paying multiple accounts in different currencies. Merchants can also set up recurring payments so they no longer have to fill in payment details every time for the same transaction.
Marketplace Integrations
Payoneer also offers merchants a secure and fast way to get paid by marketplaces. The payment orchestration software connects to 2000 marketplace services like Amazon, Fiverr, eBay, etc. It consolidates them all under one roof, ensuring all earnings go to one account.
#4 BlueSnap
Overview
Bluesnap helps businesses deliver an ROI through its modular technology and the guidance of its payment experts. It optimizes payments wherever they sell, which can be turned on and off by country, product, issues, etc. This global payment orchestration software supports 100+ currencies and payment types.
This payment platform also contains a suite of tools to improve authorization and reduce costs, like intelligent payment routing for successful conversions and 3-D security for fraud protection. BlueSnap also integrates with existing systems so merchants can access their data from one place and reconcile accounts easily.
Features
Local Card Acquiring
BlueSnap eliminates cross-border challengers as it helps businesses reach and capitalize on customers in other regions. They can accept payments in 200+ geographies and 47 countries. Local card acquiring increases authorization rates without burdening the customers with unnecessary fees.
Customizable Value-Added Services
BlueSnap is completely modular to fit the unique needs of businesses. The payment orchestration platform offers customizable value-added services they can add or not, including tools like digital wallets, chargeback management, tax calculations, and fraud prevention. While these services can help them function efficiently, businesses can opt out to reduce technical debt.
Invoice & Billing
BlueSnap lets users automate their invoicing and billing operations so they can get paid faster and forecast their cash flow accurately. The global payments platform streamlines the quote-to-cash process for more accurate invoices and successful subscriptions or collections. Merchants can get paid quickly through an embedded link in the invoice, which the customers can pay in their preferred currencies.
#5 ProcessOut
Overview
ProcessOut is a payment orchestration platform acquired by Checkout.com, designed to help merchants monitor and optimize their payment performance. Based on payment data, it can tell users how much they can recover by leveraging multiple payment providers. The platform also leverages a smart technology that can route payments using any parameter of a transaction and retry failed transactions across 100+ service providers.
Features
PCI-compliant Vault
ProcessOut boasts a PCI-compliant vault that ensures the storage and security of payment data. This payment orchestration platform gives users the authority to decide where transactions are processed.
AI Smart Routing
ProcessOut leverages statistical models and machine learning to create its smart routing algorithm. This algorithm learns from existing transactions to find the best provider for the merchant. It can identify anomalies and trigger automated alerts when issues in performance have been found. Moreover, this algorithm can retry failed transactions instantly.
Payment Performance Analysis
ProcessOut can make direct comparisons of performances between different payment providers for different transaction profiles. It provides a standardized payment performance analysis by consolidating the reporting of payment status and outcomes.
The payment orchestration platform utilizes an agnostic payment monitoring system called Telescope to analyze transactions and identify ways to improve performance across 10+ industries. Telescope can import data from third-party sources, including payment service providers, to benchmark performance and provide personalized recommendations.
Conclusion
Using a centralized platform, process and monitor payments from consumers and other businesses. Payment orchestration software consolidates payment data across multiple gateways and service providers so merchants can identify opportunities for improvement by understanding trends and analyzing consumer behavior. It also minimizes costs by routing transactions through channels that charge the lowest fees.
Choose from the top 5 best payment orchestration software in 2024 to stay competitive, increase sales, and prevent customer churn. These five platforms integrate with multiple payment methods, gateways, and service providers, ensuring businesses can manage every step of the payment process and create superior customer experiences.
